Despite the best efforts by policymakers to stem the bleeding, Chinese stocks fell heavily in Thursday trade.
The benchmark Shanghai Composite index had lost a further 3.5%, taking its total losses over the past 13 trading sessions to 25%. The CSI 300 and tech-heavy ChiNext indices declined by a similar margin.
China’s stock market has become increasingly volatile with some of the largest intraday swings on record occurring in recent sessions.
Today the Shanghai Composite traded in a 285 point range, or 7% of yesterday’s closing level.